BlogRankingIndustryBest Machine Shops SBA Lenders of 2026

Best Machine Shops SBA Lenders of 2026

February 2, 2026
Industry, Ranking
4 min read

Best Machine Shops SBA Lenders of 2026

$125.4M
Total Funded

161
Loans Approved

$779K
Avg Loan Size

9.35%
Avg Interest Rate

75
Active Lenders

SBA Loans for Machine Shops Businesses

The Machine Shops industry received $125.4M in SBA 7(a) loans across 161 businesses in 2025. With 75 lenders actively funding this industry, finding the right bank can make a significant difference in your rates and approval odds.

Working with an experienced SBA loan broker who understands the Machine Shops industry can help you access lenders that specialize in your business type.

💡 Key Insight: The average SBA loan for Machine Shops businesses is $779K with an average rate of 9.35%. Lenders who specialize in this industry often offer better terms and faster approvals.

SBA Loans by Business Type

Here’s how SBA 7(a) loans break down for Machine Shops businesses by business stage:

🚀 Startups
25%
$24.2M • 40 loans

🏢 Existing Businesses
55%
$50.1M • 89 loans

🔄 Business Acquisitions
20%
$51.1M • 32 loans

Top 50 SBA Lenders for Machine Shops (2025)

These are the banks that funded the most SBA 7(a) loan volume to Machine Shops businesses, ranked by total volume:

Rank Lender Volume Loans Avg Rate
1 U.S. Bank, National Association $8.6M 11 8.80%
2 First Financial Bank $7.5M 4 8.78%
3 The Huntington National Bank $6.1M 17 9.12%
4 Washington Trust Bank $5.0M 1 8.25%
5 1st Source Bank $5.0M 1 9.25%
6 Live Oak Banking Company $5.0M 2 9.00%
7 Highland Bank $4.6M 3 8.58%
8 First Internet Bank of Indiana $4.3M 2 9.25%
9 Columbia Bank $4.2M 4 10.50%
10 Pathward National Association $4.1M 2 9.38%
11 JPMorgan Chase Bank, National Association $3.8M 5 8.75%
12 Bank of America, National Association $3.7M 3 5.71%
13 Merchants Bank of Indiana $3.6M 2 9.75%
14 Libertyville Bank & Trust Company, National Association $3.3M 2 7.13%
15 Milestone Bank $2.9M 1 10.00%
16 First American Bank $2.7M 2 8.09%
17 Hancock Whitney Bank $2.6M 1 9.50%
18 Cogent Bank $2.5M 1 8.75%
19 Nicolet National Bank $2.4M 1 7.50%
20 TD Bank, National Association $2.4M 4 9.68%
21 Bank First, N.A. $2.4M 1 7.00%
22 BOKF, National Association $2.2M 1 7.00%
23 United Midwest Savings Bank National Association $2.2M 1 10.00%
24 Beach Cities Commercial Bank $2.0M 1 9.75%
25 Enterprise Bank & Trust $1.9M 1 8.25%
26 Stearns Bank National Association $1.9M 3 8.67%
27 Pinnacle Bank $1.8M 1 9.25%
28 Northeast Bank $1.7M 7 10.79%
29 Truliant FCU $1.7M 2 10.25%
30 Equity Bank $1.5M 1 9.24%
31 First Commonwealth Bank $1.5M 3 9.50%
32 Alerus Financial, National Association $1.4M 2 10.00%
33 First Savings Bank $1.3M 1 10.25%
34 Idaho Central CU $1.2M 2 9.50%
35 Community Savings Bank $1.1M 1 8.25%
36 Zions Bank, A Division of $1.0M 1 6.20%
37 Northwest Bank $936K 2 9.00%
38 Lendistry SBLC, LLC $901K 4 12.13%
39 The Bank of Kaukauna $864K 1 9.00%
40 KeyBank National Association $852K 4 9.72%
41 Peoples Bank $763K 1 6.75%
42 Newtek Bank, National Association $760K 4 11.25%
43 United Bank of Union $611K 1 9.00%
44 CalPrivate Bank $585K 1 10.50%
45 First Community Bank $503K 3 6.55%
46 Celtic Bank Corporation $500K 4 10.56%
47 Capital One, National Association $500K 1 3.00%
48 Wells Fargo Bank National Association $469K 2 8.41%
49 Colorado Enterprise Fund $350K 1 9.99%
50 Port 51 Lending LLC $350K 1 10.25%

🚀 Best Lenders for Machine Shops Startups

Starting a new machine shops business? These lenders funded the most startup loans in this industry:

Rank Lender Startup Volume Loans Avg Rate
1 1st Source Bank $5.0M 1 9.25%
2 U.S. Bank, National Association $4.1M 6 8.88%
3 First Financial Bank $3.7M 2 9.25%
4 TD Bank, National Association $2.2M 2 8.85%
5 Bank of America, National Association $2.1M 1 5.93%
6 Idaho Central CU $1.2M 2 9.50%
7 Northwest Bank $936K 2 9.00%
8 Pathward National Association $789K 1 9.75%
9 Truliant FCU $663K 1 10.25%
10 United Bank of Union $611K 1 9.00%

🔄 Best Lenders for Machine Shops Acquisitions

Looking to buy an existing machine shops business? These lenders specialize in acquisition financing:

Rank Lender Acquisition Volume Loans Avg Rate
1 Live Oak Banking Company $5.0M 2 9.00%
2 First Internet Bank of Indiana $4.3M 2 9.25%
3 Highland Bank $4.0M 1 8.25%
4 Merchants Bank of Indiana $3.6M 2 9.75%
5 Pathward National Association $3.4M 1 9.00%
6 Libertyville Bank & Trust Company, National Association $3.3M 2 7.13%
7 Milestone Bank $2.9M 1 10.00%
8 First American Bank $2.7M 2 8.09%
9 Cogent Bank $2.5M 1 8.75%
10 Nicolet National Bank $2.4M 1 7.50%

🏢 Best Lenders for Existing Machine Shops Businesses

Already running an established machine shops business? These lenders have funded the most loans to existing businesses in your industry:

Rank Lender Volume Loans Avg Rate
1 Washington Trust Bank $5.0M 1 8.25%
2 U.S. Bank, National Association $4.5M 5 8.70%
3 Columbia Bank $4.2M 4 10.50%
4 First Financial Bank $3.8M 2 8.31%
5 JPMorgan Chase Bank, National Association $3.7M 4 7.86%
6 The Huntington National Bank $3.6M 8 9.53%
7 Hancock Whitney Bank $2.6M 1 9.50%
8 BOKF, National Association $2.2M 1 7.00%
9 Beach Cities Commercial Bank $2.0M 1 9.75%
10 Enterprise Bank & Trust $1.9M 1 8.25%

Top States for Machine Shops SBA Loans

Here are the states with the highest SBA lending volume for Machine Shops businesses:

Rank State Volume Loans
1 California $12.3M 20
2 Minnesota $11.2M 11
3 Washington $10.9M 6
4 Illinois $10.2M 14
5 Indiana $9.2M 5
6 Ohio $9.1M 20
7 Pennsylvania $8.7M 8
8 Wisconsin $8.3M 7
9 Florida $8.3M 10
10 Texas $7.6M 7
11 North Carolina $7.3M 4
12 Colorado $3.5M 6
13 Tennessee $3.2M 2
14 Michigan $2.4M 6
15 Oklahoma $2.2M 1
16 Nevada $1.9M 1
17 Kansas $1.5M 1
18 Idaho $1.4M 3
19 Arizona $970K 3
20 New York $808K 7
21 Massachusetts $793K 2
22 Virginia $753K 5
23 Missouri $611K 1
24 Louisiana $470K 2
25 Alaska $445K 2
26 Georgia $350K 1
27 Oregon $200K 2
28 New Hampshire $150K 1
29 Maine $150K 1
30 New Jersey $150K 1
31 South Dakota $71K 1

Top Cities for Machine Shops SBA Loans

Minneapolis, Mn

$6.6M
Volume

5
Loans

Shelton, Wa

$5.0M
Volume

1
Loans

South Bend, In

$5.0M
Volume

1
Loans

South Abington Township, Pa

$5.0M
Volume

2
Loans

Wylie, Tx

$4.3M
Volume

2
Loans

Washougal, Wa

$4.2M
Volume

2
Loans

Madison, In

$3.8M
Volume

2
Loans

Mentor, Oh

$3.7M
Volume

2
Loans

Oak Lawn, Il

$3.6M
Volume

2
Loans

Sanford, Nc

$3.4M
Volume

1
Loans

Wood Dale, Il

$3.3M
Volume

2
Loans

Anaheim, Ca

$3.0M
Volume

2
Loans

Cookeville, Tn

$2.9M
Volume

1
Loans

Freeburg, Il

$2.7M
Volume

2
Loans

Houston, Tx

$2.6M
Volume

1
Loans

Olivehurst, Ca

$2.5M
Volume

1
Loans

🤝 Why Use an SBA Broker for Machine Shops Loans?

GoSBA Loans has extensive experience financing Machine Shops businesses:

  • Industry expertise — we know which lenders specialize in Machine Shops
  • Access to 75+ lenders — including banks that don’t accept direct applications
  • Better rates — our relationships help secure competitive terms
  • Faster approvals — proper preparation leads to quicker decisions
  • Free service — lenders pay us, you pay nothing extra

📞 Get Expert Help with Your Machine Shops SBA Loan

Our team specializes in SBA financing for Machine Shops businesses. Let us match you with the right lender for your specific needs.

Need SBA financing for your Machine Shops business? GoSBA Loans specializes in SBA loans for Machine Shops businesses. Contact our industry specialists today for a free consultation.

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http://gosbaloans.com

Ishan Jetley is the owner of GoSBA Loans. I have assisted 100's of businesses with their business loans. I specialize in SBA financing for working capital, real estate and business acquisitions.

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